I was able to meet with a source that was kept on and this I was able to gather the following information.
I will call my source my JOHN (really wanted to have a source ).
JOHN wanted to tell me that any commissioned employee has not been paid in a month and a salaried employee has not been paid in 2 weeks.
JOHN has been kept as a skeleton employee and starting this coming Tuesday will start being paid
A company called AMERICU will service any home loan in process with Central States Mortgage that was started - that is the good news
I really feel sorry for the employees that WILL not get paid.
No severance - no pay for a while!!
Was there severence pay for management that were dismissed? What happened to the $42 million we closed in February that we as loan
officers won't get paid on?
How long will AMERICU stay in this market??
That is just "MY TWO CENTS"